The American dream isn’t dead; like previous generations, families have and will continue to seek a place of their own.
With Orange Key Realty’s knowledge and experienced sales associates you will be guided toward the right decision for you.
When a hermit crab decides it’s time for a new home, it scopes out a new shell before vacating its current accommodation.
But for homeowners, the process is not so easy.
Whether you buy a new home before selling your current one — or the other way around — the choice of what to do first comes down to which option makes you the most comfortable.
“Both have pros and cons,” states Ofir Hillel, broker/owner of Orange Key Realty.
Here are some to consider:
Sell first
When you know what your current home has sold, you can zero in on exactly what you can afford in your next one.
Because you already know the conditions of your own home’s sale, such as the closing date, you can make informed offers.
The downside: If you can’t get possession of your new house before leaving your current one, or even worse, can’t find what you’re looking for, you’ll need temporary housing. Can you afford a short-term rental, and what will you do with your furniture while you’re waiting?
Buy first
If you’ve found a home with unbelievable features in a great neighborhood at an awesome price, the pressure is on. You really want this dream home, so in this case, you may have to buy before selling.
If the local real estate market is hot, you might feel safer buying first.”
“It’s probably a safe bet your home will sell fast, as quality inventory is low, unless it’s out of step with its neighbors. If it’s a fixer, or if it’s the best home in the neighborhood, it may sit or sell below asking price. The sales associates at Orange Key Realty will walk you through each step of the process in order to minimize any setbacks,” states Michael Matthews, broker/owner. “Some families handle risk better than others. What kind and how much depends on your circumstances.”
Orange Key Realty’s staff of sales and broker associates can be reached at 863 Georges Road, Monmouth Junction, (732-297-6969), serving Middlesex County, and 60 Main St., Freehold, (732- 863-6699) serving Monmouth County.